KUCHING: The Endowment Fund Sarawak (EFS) initiative is set to enter its next phase, EFS 2.0, with Affin Bank Berhad appointed as its new managing partner starting Jan 1, 2025.
Minister for Women, Childhood and Community Wellbeing Development (KWPK), Datuk Seri Fatimah Abdullah announced the transition during a press conference, highlighting efforts to ensure a seamless changeover from Bank Islam Malaysia Berhad, which has managed the programme since its launch in 2019.
“Affin Bank has been entrusted with managing EFS 2.0 for the next five years, from 2025 to 2029. This decision was recently approved by the Sarawak State Executive Council (MMKN), and we are committed to making this transition smooth and efficient for all stakeholders.”
Fatimah said this during the press conference after chairing the EFS committee meeting here on Thursday (Nov 28).
She said to prepare for the transition, a workshop involving the ministry, Affin Bank, the National Registration Department (JPN), and other government agencies will be held in December 2024.
“The workshop aims to refine the standard operating procedures for application, payment, management, promotion, and monitoring of EFS.
“Affin Bank has been instructed to submit a draft agreement and standard operating procedures to KPWK Sarawak by Dec 9, 2024. The final agreement will be signed in the first quarter of 2025.”
She also said that starting Jan 1, 2025, all EFS applications will continue to be submitted at the JPN state branches.
“JPN will send application forms for births registered in 2024 to Bank Islam, while applications for births registered in 2025 will be handled by Affin Bank.
“For Phase 1 the manual applications at JPN beginning Jan 1, 2025 while for Phase 2, the online applications starting in the third quarter of 2025.”
Fatimah also expressed her gratitude to Bank Islam for their contributions over the past five years, describing their role as pivotal in establishing the EFS initiative.
“Our deepest appreciation and gratitude go to Bank Islam Malaysia Berhad for their support since the initiative began in 2019.
“I also hope for a smooth transition period and extend heartfelt thanks to all 52 branches of the Sarawak JPN that have been assisting in processing EFS applications since 2019.”
